For most of his life, Bob Foote, owner of Foote Cattle Company in Kansas, has been in the cattle feeding business. Volatility is nothing new to him, but 2016 has been one of his most challenging years yet.

U.S. net farm income is expected to drop for a third consecutive year in 2016, sinking 17.2 percent to $66.9 billion due largely to weak returns for livestock, dairy and poultry farms, the U.S. Department of Agriculture said on Wednesday.